No interest in acquiring TikTok, says Elon Musk
What's the story
Billionaire entrepreneur Elon Musk has publicly dismissed any interest in acquiring the popular short-video app TikTok. Musk made the statement during a summit hosted by The WELT Group, a part of German media company Axel Springer SE. The clarification comes after US President Donald Trump recently suggested that he would be open to Musk purchasing the app if he so desired.
Clear position
Musk's stance on TikTok acquisition
"I have not put in a bid for TikTok," Musk said during the summit. He went on to clarify his stance saying, "I don't have any plans for what I would do if I had TikTok." Musk also claimed that he doesn't use the short video app himself and doesn't know what it looks like. This further highlights his disinterest in buying the platform, owned by Chinese company ByteDance.
Business strategy
Musk's approach to business acquisitions
Musk stressed his overall philosophy toward business, saying, "I'm not chomping at the bit to acquire TikTok, I do not acquire companies in general, it's quite rare." He noted that his purchase of social media platform Twitter (now X) was an anomaly. "I usually build companies from scratch," Musk added. This further cements his lack of interest in buying up already established businesses like TikTok.
National security
US government's stance on TikTok
The US government has been mulling a TikTok ban over national security concerns stemming from its Chinese ownership. ByteDance was given until January 19, to divest TikTok's US assets or face a potential ban. The move stemmed from fears that China could compel ByteDance to share data from its American users. However, TikTok has always denied any plans of sharing user data with any entity.
User access
TikTok's response to potential US ban
In response to the possible ban, TikTok has discovered alternative methods for its American users to access the app. Although Apple and Google have not reinstated TikTok on their app stores, the company announced that it is now letting US Android users download and connect through package kits available on its website. The move appears to be an attempt by the company to bypass restrictions in the country.